RealNetworks sees Q1 2010 game revenues drop 8% to $30.2 million

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RealNetworks sees Q1 2010 game revenues drop 8% to $30.2 million
The games division of RealNetworks (NASDAQ: RNWK) reported its Q1 sales for the three months ending 31 March.

Sales were $30.2 million, down 8 percent year-on-year.

It made a net loss of $5.4 million.

The division includes social gaming websites such as, and, mobile games.


Overall, the company, which consists of technology, games and music divisions, had net revenue of $128.6 million, down 9 percent year-on-year.

Excluding the effects of foreign exchange rate changes, revenue declined 11 percent.

Net income was $3.2 million, compared to a loss of $12 million 12 months ago.

"We made significant progress toward achieving our milestones to transform RealNetworks over the coming year into a growing and profitable company," said Bob Kimball, president and acting CEO.

"While we are moving fast to transform the company, our plans to simplify, restructure and grow RealNetworks require substantial work, and it will take some time before we see the financial benefit of our efforts."

RealNetworks finished the quarter with cash and short term investments of $335 million, compared to $385 million a year ago.

[source: RealNetworks]
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A Pocket Gamer co-founder, Jon is Contributing Editor at which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.